UBS Group Cuts WEX (NYSE:WEX) Price Target to $172.00

WEX (NYSE:WEX) had its price target lowered by UBS Group from $200.00 to $172.00 in a report issued on Friday,Benzinga reports. UBS Group currently has a neutral rating on the business services provider’s stock.

Several other equities research analysts have also issued reports on WEX. Wells Fargo & Company decreased their price target on shares of WEX from $180.00 to $160.00 and set an “equal weight” rating for the company in a research note on Friday. Barclays reissued an “equal weight” rating and issued a $200.00 target price (down from $207.00) on shares of WEX in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods dropped their price target on WEX from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Friday. William Blair reissued a “market perform” rating on shares of WEX in a report on Thursday. Finally, Jefferies Financial Group upped their price objective on shares of WEX from $180.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, WEX currently has an average rating of “Hold” and an average price target of $209.73.

WEX Stock Up 0.0 %

Shares of NYSE:WEX opened at $152.00 on Friday. WEX has a 1 year low of $146.03 and a 1 year high of $244.04. The company has a market capitalization of $6.05 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.24 and a beta of 1.58. The business has a fifty day moving average price of $177.60 and a two-hundred day moving average price of $185.82. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.02 and a quick ratio of 1.04.

WEX (NYSE:WEX) last posted its quarterly earnings results on Wednesday, February 5th. The business services provider reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.16. WEX had a net margin of 11.78% and a return on equity of 32.35%. Analysts forecast that WEX will post 14.27 earnings per share for the current year.

Insider Activity

In related news, COO Robert Joseph Deshaies sold 175 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $189.44, for a total value of $33,152.00. Following the sale, the chief operating officer now owns 7,582 shares in the company, valued at approximately $1,436,334.08. This trade represents a 2.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On WEX

A number of institutional investors have recently added to or reduced their stakes in the business. Commerce Bank grew its holdings in shares of WEX by 1.7% during the third quarter. Commerce Bank now owns 3,624 shares of the business services provider’s stock worth $760,000 after purchasing an additional 60 shares in the last quarter. CIBC Asset Management Inc lifted its position in WEX by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 1,283 shares of the business services provider’s stock valued at $225,000 after purchasing an additional 65 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in WEX by 25.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 327 shares of the business services provider’s stock worth $56,000 after buying an additional 66 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of WEX by 0.6% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 11,175 shares of the business services provider’s stock worth $1,959,000 after buying an additional 70 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of WEX by 40.7% during the 3rd quarter. GAMMA Investing LLC now owns 301 shares of the business services provider’s stock valued at $63,000 after buying an additional 87 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.

About WEX

WEX Inc operates a commerce platform in the United States and internationally. The Mobility segment offers fleet vehicle payment solutions, transaction processing, and information management services; and provides account activation and account retention services; authorization and billing inquiries, and account maintenance services; account management; credit and collections services; merchant services; analytics solutions; and ancillary services and offerings.